AGP Executive Report
Last update: 26 minutes agoRBA and Rates: The Reserve Bank lifted the cash rate by 0.25 percentage points to 4.85%, an 18-year high and its fifth increase this year. Inflation is running at 4.3%, but a split vote and Governor Michele Bullock’s comments point to a possible pause. Housing and Mortgages: Home prices have fallen for seven months, and Commonwealth Bank has cut its price-growth forecasts as higher repayments squeeze borrowers. Banking Sector: NAB plans to cut 2,500 jobs, adding to pressure on the sector’s workforce. Renewables Finance: Neoen secured A$1.8 billion from 13 lenders, including ANZ, CBA, NAB and Westpac, to fund a 1.2-gigawatt Australian portfolio of solar, wind and battery projects.
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